Need a fresh start? Don’t be embarrassed; there comes a point in everyone’s lives where they need to go back and look at all of the financial decisions they’ve made. Good or bad, it’s part of your history. But if you want to move forward, you can’t just hide in the past. You have to get a credit card that will build up your history again. Hiding from the problem doesn’t change the outcome. It just makes it much more difficult to get the things that you really want later, like a house and a car.

Are there “fresh start” credit cards that ignore your bad credit? Absolutely. Lenders have a reason for this, naturally: they want to get you back into the credit system and using credit like normal people. They want the fees that they’re missing out on. But just because they might have an ulterior motive to their actions doesn’t mean that you have to ignore the benefits waiting for you.

Here’s some cards that you might want to check out:

1. Aqua Classic Card

This is a card that does have a fairly high APR, but not nearly as high as some of the others in the category. If you want to go with a card that’s going to help you rebuild your credit without slowing you down, this is a great card for you. It has an APR of 29.7%.

2. Capital One Classic Preferred

Capital One is a known brand across the globe, so you can have peace of mind about all of your charges. The reason why we really like this card is that you know exactly where you stand with the card from the beginning. The application is about 60 seconds, so if you’re approved you’ll know right away. The APR is 28.9%, which represents this category of credit cards fairly well.

3. Vanquis Credit Card

At 39.9% APR, this really isn’t the first choice on our list by any stretch of the imagination. But if all other credit cards have rejected you, the Vanquis Credit Card will most likely take you in. There’s a grace period every payment cycle where interest isn’t charged. To save money while rebuilding your credit history, you want to make sure that make your payments on time every single month. It’s the best way to avoid additional fees.

Keep in mind that this isn’t a category of credit cards that you will want to use forever. The APR rates are very high because you represent an extreme risk to the credit card company. Still, it’s better to go with a company that’s going to give you a chance rather than just deny you opportunities.

Good luck on your credit rebuilding journey. As long as you pay these cards on time, you’ll have a better credit history in no time at all.

Balance transfers give you bargaining power and room to breathe. Credit card got you down in terms of interest rates every single month? Well, it’s time to break ties with that card and move the balance over to another credit card. That’s the essence of a balance transfer. We want to save money while enjoying all of the benefits a credit card has to offer.

Keep in mind that balance transfers are generally aimed at people who are in good standing credit-wise. You don’t want to do this unless your credit rating is as high as possible. You also will have a time limit for when you can perform the balance transfer. With 0% benefits waiting for you, there’s no reason to wait around. The same credit card rules apply: pay the amount due on time, without question. You also need to make sure that you’re not just charging up the full amount of the card limit, or you should run the risk of over the limit fees. Since this is all common knowledge, we won’t waste too much time beating you over the head with it.

Here are our picks for great UK credit cards, if you want to do a balance transfer this spring.

1. Barclaycard Platinum w/ Balance Transfer

This card lets you pay off your balance transfer at 0% APR for 31 months! You have read that correctly: if you get approved for this card, you can transfer your balance and then pay it off within 31 months without incurring additional fees. There is a balance transfer fee, but that’s pretty standard. You have a purchase APR of 0% for six months, which definitely makes this card good for balance transfers more for purchases. Still, if you needed to make some purchases you could. The APR after the intro period is 18.9%. If you can do better than this APR, we recommend doing so and just leaving this as a balance transfer card.

2. Tesco Bank Clubcard Credit Card

This card stands out in the pack because it has a very low balance transfer fee, along with a 0% balance transfer fee for 12 months. The nice part is that even after you pay of the balance transfer fee, your purchases are going to be at 0% for 12 months. This would be a great way to get some of those holiday purchases out of the way early! 🙂 The balance transfer fee is extremely low, at just 0.65%. This means that you can transfer a big balance and then whittle it down easily over 12 months.

3. Halifax Balance Transfer Card

This card gives you 0% on balance transfers for 28 months. That’s definitely something to look into, and this card is known to be a lot more reasonable for applications than others. The fee is a bit higher, at about 2.45%. But when you look at how long youíll have to pay the balance transfers, it makes perfect sense.

A balance transfer card should be at the top of your list, if youíre trying to consolidate your finances. Check out these offers and see how much you could save!

Some have tossed around the idea of a credit blacklist, which would mean that companies are actually blocking you from getting the credit that you deserve. The idea of being automatically shut out of the credit you need for the bigger things in life can be scary, but that doesn’t mean that it’s true. Simply put, the good news that you need to hear right here, right now is that there’s no such thing as a credit blacklist. What gets people confused is that creditors do not have to accept you. They have to look at your credit file before deciding whether or not you are a good credit risk.

Yet it gets deeper than that. They can look at how much money you’re going to bring to their coffers. If you’re someone that pays your credit card bills off every single month without drawing any interesting…guess what? You’re not going to be giving them the revenue that they’re looking for. Would you? If you honestly had two people and you knew that one wasn’t going to make you any interest back on the money that you let them borrow while the other will give you a good 10%… you would be silly to go with the one that gets to borrow your money for free!

That’s what you’re doing when you sign up for a credit card to begin with. You are totally and completely borrowing someone else’s money to pay for the things that you feel you need right away. Whether we think that it’s right or wrong doesn’t make any difference. The point here is that you have to start looking at what type of credit customer you are.

There’s nothing wrong with paying your bills on time. In fact, we would recommend that you always pay your bills on time. This will give you the best credit score possible. But you do need to stared thinking about utilization and how you want to make that work. If you’re not focused on utilization at all, you’re going to end up having a really tough time getting anything done. Utilization is simply the percentage of money used on the card. If you have a credit with a 1000 GBP limit, and you use 250 pounds, that’s going to be a card with a 25% utilization. That’s not bad at all.

On the other hand, if your card is at the 800-900 range, that’s a lot of utilization. It makes lenders nervous that you’re racking up debt that you aren’t going to pay back. As you get better with your finances, you will be able to handle this in a completely different way. You will be able to save money so that you don’t run the risk of having to lean on your credit cards. Now, what happens if you really do hit some rough patches? You will need to make sure that you take things to the next level through getting past the situation as quickly as possible. No one says that life doesn’t move in pretty uncertain ways. But you do need to make sure that you can roll with the punches. If you just glide through life like nothing happened, you run the risk of ignoring glaring situations that can become problematic for you over time.

Don’t let life get to you like that. Embrace credit, and learn how to use it well. What purpose does credit really have in your life? We’d love to know, so don’t hesitate to tell us all about it in the comments!

If you’re coming out of a bankruptcy or finishing up an IVA, you’ll find that the world of credit really is a different place than when you were in it. For starters, lenders are going to want to see that you can prove yourself all over again if you haven’t learned your lesson about credit, you might find that the penalties for credit problems are much higher. However, you will need to work your way back to good credit. After all, it goes without saying that you probably want to save up for a house. You will still need to trust lenders to give you a mortgage to make your dream of owning a home come true. If you can’t do that, then this dream will fade away faster than you can blink. You are going to have to make absolutely sure that you are doing something to build credit. Of course, many wonder how that can be done when it feels like everyone is just waiting to reject you. Why not go with a secured credit card?

They used to be very unpopular, but now they’re making a comeback as people realize how powerful they can be. If you have some savings, you can use it to make a bigger deposit. Generally speaking, your deposit is equal to your credit line. So if you start the account with 500 pounds, you’re going to have a 500 pound credit line. Don’t worry about the small line of credit. Over time, this will definitely grow.

The key here — and this cannot be understated at all — is that you have to make all of your payments on time. Not only that, but you have to watch your individual as well as group utilization ratios. The individual utilization ratio refers back to the percentage of credit that you’ve used against the total balance of the card. So a balance of 250 pounds against a 500 pound credit line is 50%, but a total balance of 250 pounds against a total credit line of 1000 pounds is only 25%. Managing your overall utilization is important, but you don’t want to get too crazy with each secured card that you get. You want to make sure that you keep balances low. The important thing that you’re building here is image. So if you build the image of someone that has to use their entire credit limit every month, lenders will start worrying that you can’t manage your finances without credit. That’s really not a position to be in if you can help it.

From here, the options are endless. You can shop around for a secured credit card that works for you. Once you get it activated, you can go about using it like you would normally. The “secured” part only comes in if you happen to avoid making the payments. If that happens and you default, the deposit you put down for the card will be used to pay off the card. What’s left will be pursued by any means necessary. So clearly, you don’t want to go down that road. Credit card companies want to take a chance on you if you can prove to them that you’re worth it. Otherwise, they don’t want to deal with you if they can help it.

You have the power to turn over a new leaf and make better financial decisions than ever before. Why not check it out today, while it’s still on your mind? Good luck!

Looking at your credit report is something that you need to do on a regular basis. For those that are new to the world of personal finance, a credit report is simply the history of credit that you’ve enjoyed so far. It’s a documentation of all of the mortgages, credit cards, and cell phone agreements that you’ve enjoyed up to a certain point. As long as you know what’s in your credit report, you’ll be able to make smarter financial decisions. If you’re nervous about finding out what’s in your credit file, don’t worry — it’s not there to scare you. If anything, it’s there to let you know where you stand with lenders.

The truth of the matter is that the lender doesn’t know you from anyone else. They can’t tell that you’re a good person because they can’t spend time with you. They can’t understand all of the little sacrifices that you’ve made for your family, and it doesn’t really matter if you’ve given heavily to charity. The truth is that the credit report is designed to be a universal way for people to stand equally in the eyes of lenders. It’s not about what you look like or what type of education you received. It’s about who pays their debts on time, who builds their credit properly, and who weighs themselves down with debt that they cannot afford to repay.

There’s a lot of information in a credit report, but it’s kept confidential. Your friends cannot just request a copy of your credit report, and information from it cannot be released to them. Lenders have to keep your information private unless you give them permission to share it.

When you pay your bills on time, you have good credit reporting. This makes lenders feel more comfortable offering you finance terms, such as what you would expect for a car or another item. Building up good credit is the only way that you’ll get the best credit terms. Of course, you will find lenders that are willing to extend an offer of credit to you if your credit is less than perfect, but they will end up charging you a lot of interest. The higher you are as a credit risk, the most likely it is that they will not give you the type of credit that you’re really after. For example, if you see ads for 0 percent interest credit cards, they’re really aimed at people that have stellar credit. if you don’t have that, then you’re going to be looking at offers that just aren’t that great.

When it comes to your credit report, the level of information is pretty deep. Not only do you have your current address reported, but it’ll also show Court Judgments, bankruptcies, and any Individual Voluntary Arrangements.

What else that we found interesting (that many people overlook) is that a credit report lists people who have a financial connection with you. So if you take out a joint mortgage with your spouse, your credit report is linked to theirs and vice versa. This means that lenders will automatically look up their credit history in the future when you apply for credit, as their situation may affect your ability to pay. If they default on something that you both signed for, then you’re on the hook for those payments. Lenders have to calculate in how likely that is to happen before they can give you credit of any kind.

Lenders share what you owe and whether or not you’ve paid on time. Just one missed payment can really mess with your credit score, so it’s best to pay things early if you can help it. There’s usually no penalty to paying things early, and it can make you look good in the eyes of your future and current lenders alike.

If you’ve changed jobs often or moved around, your credit report might not be correct. This is why it never hurts to look over your credit report at least once a quarter. This way, you can make sure that the information has remained as fresh as possible. This is even more important before you get ready to apply for a mortgage. Make sure that you are aware of all of your financial information, as your credit has more power than you think!

The over 50 crowd doesn’t get a whole lot of press all the time, but we wanted to highlight them. Personal finance means the world to us, and we think that it’s something that you have to focus on for the rest of your life. You can’t just pay lip service to it when you’re young — it’s a subject that has to grow with you as much as possible. There’s nothing wrong with thinking about personal finance when you’re over 50. If anything, it’s absolutely necessary in today’s complicated world. You need to make sure that you’re thinking about your entire financial blueprint and altering anything that doesn’t address your goals.

Could your credit cards be holding you back? That’s the latest news from the Saga Research Group, who discovered that 33% of the over 50 crowd actually just settled for the credit card that was associated with the bank. They felt that it was too much hassle to switch over to a more competitive offer. Of course, this isn’t something that’s just limited to those living out their golden years. Many middle aged people feel that with jobs and children and everything in between, there’s just no time to really look over the latest deals. Thankfully, there are some ways to even the field in terms of getting a much better deal.

The benefits of finding a better credit card are incredible: for starters, you’re going to be paying a lot less interest than what you’re paying now. What if you qualified for a 0pc intro offer? If you weren’t looking, you really wouldn’t know. This means that you have to make sure that you’re thinking about the bigger picture in terms of savings. Remember that interest paid to the credit card company really doesn’t serve your interests at all. This means that you could end up having to take care of even more interest, giving them more profit…that comes right out of your pocket. With rising costs everywhere you look, wouldn’t it make more sense to go with something that isn’t going to cost you extra money?

If you’re going to hunt, you need to make sure that you hunt smart. Don’t just go on what’s advertised — read all of the contract details involved. Generally speaking, you can’t just claim that you didn’t know a clause was included in your new credit card. If you begin using the card, you’ll be bound by those terms and conditions. Research them ahead of time to make sure that the “good deal” you found online is really the best deal around.

Keep in mind that you might want to check your credit reference report. The best deals go to the best credit risks, so if your credit is a bit lacking you might find that the good deal you had your eye on isn’t open to you. What’s worse is that you might not realize that the deal has been changed due to your credit not meeting the credit card company’s heavy requirements. This means that you could get a new credit card in the post that’s different from the advertised terms. This is legal to do, but it’s problematic for consumers that were hoping on that “great deal”.

Every deal has an expiration date, so pay close attention to that as well. Of course, if you’re really looking around for great deals, it never hurts to call up the credit card company directly to see if there’s anything that they can do for you. This is a clever trick that comes in handy when you’ve been away on holiday and can’t access the best deals. If they really want your business, they’ll figure out what promotions you qualify for.

This is a great time of year for rewards credit cards, which allow you to get points, miles, or even cashbook. It’s completely up to you, but remember — always compare and contrast deals! Good luck!

Credit, credit, credit — it feels like everywhere around you, someone is talking about credit. If you’re tired of coming here and seeing discussions about credit, we apologize. However, there is something to be said about credit. Even though some people are advocating for the end of credit, there are just some things that really do require credit. Unless you happen to get financially lucky enough to win the lottery or gain from an inheritance, you’re going to need to take out a mortgage to purchase your first home. Otherwise, you’re going to have to cough up a lot of cash to get your first home. This is often more money than what most regular people have. So you have to make sure that you’re thinking about the bigger picture when it comes to your future goals. Do you want to have a house someday? If so, a mortgage is going to be in the cards. You’ll also need to come up with earnest money, and a good deposit on your first home. The lender will want to see that you can be as committed as possible to the home’s future. You’ll be taking care of the house for a very long time, so all of this just makes sense.

But let’s go back to the original topic — credit. If you’re like many people, you’re getting a rush of credit card offers in the mail right now. Instead of panicking and wondering which one to even respond to, we’ve come up with a few considerations that you need to make if you really want to make sure that you can get the best credit card for your needs.

First and foremost, you need to think about what purpose you have for a credit card. Are you thinking about getting a credit card for emergency purposes? Then you definitely want to try to get a credit card with a very low interest rate. After all, you don’t want a lot of interest to deal with when you’re trying to use it in the event of an emergency. Of course, interest matters because it effects how much of your payment actually goes towards the original thing that you charged. The higher the interest rate, the more of your total payment goes to that company’s profit (interest) than what you really owe (principal).

Moving on, you also want to think about the type of features that you want. Do you want to get free balance transfers? Do you want to go ahead and have the biggest balances possible? There’s plenty of different options out there if you really want to get a high balance. This will also depend on your credit as well as what size balances you have worked with in the past. If the credit card company feels that you can handle a higher balance, they can make that happen for you.

Overall, you will want to evaluate how you honestly feel about credit. If you’re like many people and see credit as an excuse for reckless spending, then you’re really not going to be able to do much in the world of credit later on. However if you view credit as a tool that can be used sensibly, then you’re going to be ahead of the curve in a lot of ways. Good luck!